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Thursday, 11 August 2016

Action Comics #1 CGC 5.5 Nets $956K

 
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On Thursday, August 4, 2016, a copy of Action Comics #1 with the first appearance of Superman quickly flew past the $750,000 estimate to sell for close to $1 million at Heritage Auctions. As part of their Comics & Comic Art Signature Auction, Heritage sold the 1938 comic, graded 5.5 by CGC, for $956,000. It set a new record for sale of Action Comics #1 at Heritage.
“As the bidding went higher and higher we were grateful bidders recognized this copy as the gem it truly is,” said Lon Allen, Managing Director of Comics & Comic Art at Heritage. “Few copies of this comic survive, let alone come to auction with such a bright cover. It displays beautifully.”
Action Comics #1 was originally sold on comic racks for just 10¢ in June 1938. There are only about 100 copies currently known to exist.
The copy that sold on Thursday was part of a collection that was purchased from a dealer in the 1990s for $26,000. Allen also stated that the copy likely drew intense bidding because it is very attractive for the grade.
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